Mahindra & Mahindra (M&M) share price traded marginally higher on Tuesday, 4 November 2025, ahead of the announcement of Q2 results today. M&M share price gained as much as 0.38% to ₹3,562.35 apiece on the BSE.
The board of directors of auto major Mahindra & Mahindra is scheduled to meet today to consider and approve the financial results for the second quarter of FY26.
“…we inform you that the Meeting of the Board of Directors of the Company will be held on Tuesday, 4th November 2025 to, inter alia, consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for the Second Quarter and Half Year ending 30th September 2025,” M&M had said in a regulatory filing on September 25.
Analysts expect M&M to deliver decent revenue growth in the July-September quarter, driven by strong growth in both automotive and tractor segments. However, operating margin for the company’s automobile segment is expected to remain under pressure.
Here’s what to expect from M&M Q2 results today:
M&M Q2 Results Preview
Brokerage firm Motilal Oswal Financial Services expects M&M to report a net profit of ₹4,294 crore in the second quarter of FY26, registering a growth of 11.8% from ₹3,840.9 crore in the corresponding period of previous fiscal year.
The company’s revenue from operations in Q2FY26 is estimated to grow 19.5% to ₹32,921 crore from ₹27,553.3 crore, year-on-year (YoY). M&M’s total volumes in Q2FY26 grew 16% YoY to 349,807 units. The company posted strong 13% YoY growth in Passenger Vehicles (PVs) and a much stronger 32% YoY growth in tractors.
At the operating level, the brokerage firm expects M&M’s EBITDA to rise 14% YoY to ₹4,615 crore, while EBITDA margin is expected to drop by 30 basis points (bps) to 14%. For M&M’s auto segment, margins are likely to remain stable QoQ. Overall, auto segment margins are expected to decline 90 bps YoY to 8.6% and Tractor segment margins are likely to remain healthy and rise 130 bps YoY to 18.8%.
Other income is expected to be seasonally high due to dividend income from subsidiaries, Motilal Oswal said.
Investec Securities expects M&M’ revenues to increase 20% YoY to ₹34,813 crore, primarily driven by volume growth of 19% YoY as ASPs are expected to remain flattish YoY. Net profit is estimated to rise 14% YoY to ₹4,369 crore. EBITDA is expected to fall 7% YoY to ₹4,947 crore, while EBITDA margin is seen contracting by 417 bps YoY to 14.2%.
Automotive EBIT margins are expected to decline by 15 bps QoQ to 8.75% led by higher EV mix and discounting. Farm segment margins are also expected to decline 100 bps QoQ to 18.8%. Overall, EBIT margins are expected to decline 40 bps QoQ to 11.2%, Investec Securities said.
At 10:25 AM, M&M share price was trading 0.04% higher at ₹3,549.85 apiece on the BSE.
Read all Stock Market news here
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
